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Food prices traditionally have an impact on inflation around the world. Movements in theseprices are coming more from the supply side, then from the demand side. If treated as asupply shock, monetary policy should not react. However, food prices are part of headlineinflation that is an official target for most central banks. Serbia conducts Inflation targetingand faces serious challenges with food price volatility. Food price volatility in Serbia hampersinflation forecasting, and may have a negative influence on inflationary expectations andpublic confidence in (i.e. credibility of) the Central bank, all of crucial importance for successof Inflation targeting. There are several important possible improvements that may decreasevolatility of food prices but also limit negative impact of food price volatility on ConsumerPrice Index (CPI) as a measure of inflation. These improvements are very important forsuccess of Inflation targeting in Serbia.

Keywords: food prices ; Inflation targeting ; price volatility ; Serbia

Variant title: UTICAJ CENA HRENE NA INFLACIJU: SLUČAJ SRBIJE

Editor(s): Cvijanovic, Drago

Subject(s): Agribusiness

Demand and Price Analysis

Issue Date: 2015-03

Publication Type: Journal Article

DOI and Other Identifiers: UDC 338.43:63 CIP 33:63(497.11) ISSN 0352-3462 COBISS.SR-ID 27671 (Other)

PURL Identifier: http://purl.umn.edu/200511 Published in: Economics of Agriculture, Volume 62, Number 1 Page range: 41-51

Total Pages: 11

JEL Codes: Q13; Q11; E31; E52

Note: Original scientific paper

Series Statement: Economics of Agriculture 1/2015

UDC: 338.516.49:336.748.12:338.439.4(497.11)

Record appears in: Institute of Agricultural Economics, Belgrade - Serbia > Economics of Agriculture

Economics of Agriculture

Economics of Agriculture





Autor: Šoškić, Dejan

Fuente: http://ageconsearch.umn.edu/record/200511?ln=en



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